LOAN FROM THE BANK.
CHARGE TO STATE BORROWER. • (Per Press Association.) Wellington, Oct. 1. The Prime Minister corrected a reported statement that the charge to borrowers for State Advances loans from the iund provided by the Bank oi New Zealand loan to the Government would be 61 per cent. He informed the House that, when questioned by the leader of the Opposition, he replied that the'rate of interest would be 5j per cent. Be was then asked if this included sinking fund, and replied, in the negative. The amount of sinking fund would vary according to the length of the loan, but he thought it would be one per cent., so that interest and sinking fund combined would be GJ per cent, approximately. “1 do not trouble about mistakes as a rule,” added the Premier, “but this is too important to overlook,” Mr. Holland: It is refreshing to find them making mistakes about you. (Laugh ter.) *
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Bibliographic details
Hawke's Bay Tribune, Volume XIV, Issue 252, 2 October 1924, Page 5
Word Count
156LOAN FROM THE BANK. Hawke's Bay Tribune, Volume XIV, Issue 252, 2 October 1924, Page 5
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